A long-awaited change in property ownership rules for foreigners in 2011 could further heat the country’s real estate market amid bullish investor sentiment in the sector. But the government has sent mixed messages over proposals that could potentially incite nationalist sentiment.
In March, the chairman of the Indonesian Investment Coordination Board (BKPM), Gita Wirjawan, said that he was confident the House of Representatives will pass a draft bill regulating foreign ownership of land by the third quarter of 2011..............................................Full Article: Source